Real estate is a monster. It's competitive. It's rough. And it can really piss you off.
I bid on a house this week. A fucking awesome house. And it was a steal, because the buyers were relocating. It was my first time bidding on a house.
This house was da shit. Trust me. Some of you have seen the photos. The photos didn't do the place justice. I dreamt of this house. I cancelled vacations to Mexico and Central America because of this house. I was willing to shell out $2000 to break my apartment lease for this house.
I got outbid. This was AFTER I upped my offer by nearly $20,000 within a matter of hours. I was a pissed Negro. But, after my girl Jemele pointed out, the shady-ass realtor/buyer knew she had a great house and was trying to start a bidding war between me and another buyer.
The irony is, I could have easily afforded the full asking price. Hell, more. But, based on the location, I felt that the offer I submitted was fair. That, and I was trying to be all Donald Trump. But, I made one mistake that Trump would never make: I got emotionally attached to the property, which is a big mistake.
BUT, as a co-worker said, How can you NOT get emotionally attached to a house? It's where you're going to LIVE. Hell, that's personal!
I swear, I've been stressed before, but submitting a bid, then having it rejected, then having it rejected again, then calling my mortgage broker and keeping him on standby, then calling the insurance company for a quote on homeowners insurance, then scrambling for a private inspector was a pain in the ass.
As childish as it sounds, I kinda felt like I deserved a kick-ass house. I work my ass off. I don't live extravagantly. My credit is good. I have almost zero credit card debt. I don't have a car payment. I'm not a clothes whore. My one luxury is travel, and even when I do that, I do it for cheap. So, I feel like I've been a good boy, and that I should have been rewarded for a tight-ass house with a ton of equity to start building wealth.
Childish, I know. But that's how I felt.
Then, Steve, who was trying to cheer me up and let me know that there are other houses out there, responded with this: "Our credit limit with the world is endless..."
Deep. And he's right. Life goes on.